GBP/CAD - 1H - Technical analysis published on 08/27/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
67%
6%
28%
My opinion
Bullish above 1.7799 CAD
My targets
1.7845 CAD (+0.0018)
1.7868 CAD (+0.0041)
My analysis
The bullish trend is currently very strong on GBP/CAD. As long as the price remains above the support at 1.7799 CAD, you could try to benefit from the boom. The first bullish objective is located at 1.7845 CAD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 1.7868 CAD as an objective. Crossing it would then enable buyers to target 1.8590 CAD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
7
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Additional analysis
Quotes
GBP/CAD rating 1.7827 CAD. The price registered an increase of +0.24% on the session and was traded between 1.7776 CAD and 1.7838 CAD over the period. The price is currently at +0.29% from its lowest and -0.06% from its highest.1.7776
1.7838
1.7827
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this GBP/CAD chart shows a strongly bullish trend. 82.14% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
An assessment of technical indicators shows a moderate bullish signal.
The Central Indicators scanner specialised in technical indicators, has not detected anything further.
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.7740 | 1.7767 | 1.7799 | 1.7827 | 1.7845 | 1.7868 | 1.8590 |
| Change (%) | -0.49% | -0.34% | -0.16% | - | +0.10% | +0.23% | +4.28% |
| Change | -0.0087 | -0.0060 | -0.0028 | - | +0.0018 | +0.0041 | +0.0763 |
| Level | Intermediate | Major | Minor | - | Minor | Intermediate | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.7652 | 1.7710 | 1.7748 | 1.7806 | 1.7844 | 1.7902 | 1.7940 |
| Camarilla | 1.7759 | 1.7767 | 1.7776 | 1.7785 | 1.7794 | 1.7803 | 1.7811 |
| Woodie | 1.7641 | 1.7705 | 1.7737 | 1.7801 | 1.7833 | 1.7897 | 1.7929 |
| Fibonacci | 1.7710 | 1.7747 | 1.7770 | 1.7806 | 1.7843 | 1.7866 | 1.7902 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.7535 | 1.7604 | 1.7730 | 1.7799 | 1.7925 | 1.7994 | 1.8120 |
| Camarilla | 1.7801 | 1.7819 | 1.7837 | 1.7855 | 1.7873 | 1.7891 | 1.7909 |
| Woodie | 1.7563 | 1.7618 | 1.7758 | 1.7813 | 1.7953 | 1.8008 | 1.8148 |
| Fibonacci | 1.7604 | 1.7679 | 1.7725 | 1.7799 | 1.7874 | 1.7920 | 1.7994 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.6832 | 1.7058 | 1.7401 | 1.7627 | 1.7970 | 1.8196 | 1.8539 |
| Camarilla | 1.7589 | 1.7641 | 1.7693 | 1.7745 | 1.7797 | 1.7849 | 1.7902 |
| Woodie | 1.6892 | 1.7087 | 1.7461 | 1.7656 | 1.8030 | 1.8225 | 1.8599 |
| Fibonacci | 1.7058 | 1.7275 | 1.7409 | 1.7627 | 1.7844 | 1.7978 | 1.8196 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 58.45 | |
| MACD (12,26,9): | 0.0008 | |
| Directional Movement: | 8.5970 | |
| AROON (14): | 42.8571 | |
| DEMA (21): | 1.7824 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.7794 | |
| Elder Ray (13): | 0.0010 | |
| Super Trend (3,10): | 1.7786 | |
| Zig ZAG (10): | 1.7827 | |
| VORTEX (21): | 1.1388 | |
| Stochastique (14,3,5): | 77.27 | |
| TEMA (21): | 1.7832 | |
| Williams %R (14): | -22.45 | |
| Chande Momentum Oscillator (20): | 0.0009 | |
| Repulse (5,40,3): | -0.0059 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0045 | |
| Courbe Coppock: | 0.28 |
| MA7: | 1.7789 | |
| MA20: | 1.7673 | |
| MA50: | 1.7601 | |
| MA100: | 1.7439 | |
| MAexp7: | 1.7825 | |
| MAexp20: | 1.7815 | |
| MAexp50: | 1.7809 | |
| MAexp100: | 1.7797 | |
| Price / MA7: | +0.21% | |
| Price / MA20: | +0.87% | |
| Price / MA50: | +1.28% | |
| Price / MA100: | +2.22% | |
| Price / MAexp7: | +0.01% | |
| Price / MAexp20: | +0.07% | |
| Price / MAexp50: | +0.10% | |
| Price / MAexp100: | +0.17% |
Quotes :
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Real time data
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Forex
News
Don't forget to follow the news on GBP/CAD. At the time of publication of this analysis, the latest news was as follows:
-
GBP/CAD Forecast August 13, 2024
-
GBPCAD Sports a Trend That Belies Uncertainty and High Risk of Volatility (Quick Take Video)
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Webinar: Central Bank Weekly: GBP, CAD Rebound as BOE, BOC Rate Hike Odds Rise: 7/5/18
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Why I'm looking to buy GBPCAD: Coleman
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Oil & Brexit GBP CAD
This member declared not having a position on this financial instrument or a related financial instrument.
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